A legally binding contract between the host and guest outlining the terms and conditions of the short-term rental.
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Glossary Term: Short-Term Rental
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Researching and understanding the trends, competition, and pricing within a specific short-term rental market.
A third-party service that manages security deposits for short-term rentals, holding funds securely and disbursing them according to the terms agreed upon by hosts and guests.
A short-term rental property located within a city or metropolitan area, often characterized by its proximity to urban amenities, attractions, and public transportation.
A short-term rental property located within a city or urban area, often characterized by its proximity to urban amenities and attractions.
The difference between the idealized vision of short-term rental hosting (e.g., passive income, happy guests) and the often more complex, demanding reality.
Forecasts of expected utility expenses for a short-term rental property, considering factors like seasonality, occupancy rates, and energy efficiency.
The thorough cleaning process performed between guest stays in a short-term rental property, ensuring a high standard of hygiene and presentation for incoming guests.
Online platforms like Airbnb and VRBO that cater to a large volume of tourists seeking short-term accommodations.
The average percentage of time a short-term rental property is occupied by paying guests over a specific period.
Allowable expenses that can be deducted from rental income to reduce tax liability for short-term rental owners.
A professional who can assist travelers with booking short-term rentals, providing recommendations and handling arrangements.